Jun 20 2018

Trade Idea for the day

USDINR :- Pair gave a gap down opening of 68.10 after closing at 68.38 levels yesterday, currently below 21 day SMA on hourly charts. Momentum indicators  are nuetral with RSI at 49 and MACD around zero line.

Our Preference:-  Buy below 68.05

Target – 68.25-68.30

Stop loss – 67.95

EURINR: – Pair corrected from yesterday’s levels of 79 and above as euro crosses fell below 1.16 levels, pair likely to take support around horizontal blue line and head toward the trendline resistance. Technical indicators like RSI around 43 levels with MACD below zero line giving buying signals.

Our Preference: – Buy below 78.75

Target – 79.00-79.05

Stop loss – 78.65

GBPINR: – Pair trading around the opening levels of 89.60 seen taking support around the same, currently below 14 Day SMA on hourly charts. Momentum indicators Like MACD below zero line and RSI at 34 giving buying signals.

Our Preference: – Buy below 89.55

Target – 89.80-89.90

Stop loss – 89.40

JPYINR: – USDJPY above 110 levels and USDINR gap down opening pulled the pair lower, currently above 21 day SMA on hourly charts. Momentum indicators are nuetral like MACD around zero line and RSI at 49.

Our Preference: – Buy below 0.6180

Target – 0.6200-0.6210

Stop loss – 0.6170